How Japan got it covered

The fast-growing Japanese weather derivatives market is unique in both its product diversity and the range of small business end-users it serves. But where are the big players? Rob Dwyer reports

Ise City, located on the southeast coast of Japan, is home to the country’s oldest Shinto shrine. The Naiku shrine is dedicated to the sun goddess Amaterasu Omikami. Worshippers there give offerings to natural elements, such as the sun, trees and mountains, as well as to ideals of fertility and the family. But during inclement weather, fewer people visit, and there are fewer offerings to finance the shrine’s maintenance.

Bad weather in December, the busiest time of year for visitors to Japan’s